The project, which is the first of two phases, will extend the existing East London Line to Dalston Junction in the north of the city and New Cross Crystal Palace and West Croydon in the south.
It is scheduled for completion in late 2010. Construction work will begin in early 2007. Some additional work, not covered by the base contract for Phase1 could be commissioned from the joint venture over the next few months.
Commenting, Carillion Chief Executive John McDonough said, ‘This project, is the cornerstone of Transport for London and the Mayor’s £10bn investment programme to give London a 21st century transport system.’
Phase 2 of the project will further extend the line west to Clapham Junction and connect the north London line stations at Canonbury and Highbury & Islington.
According to a statement, proposals to build the new line helped to underpin London’s successful bid for the 2012 Olympic Games. Carillion claims the project will not only play a major role in transporting people to and from the 2012 Olympic Games, but also trigger substantial development and regeneration initiatives in some of London’s most deprived boroughs.
The contract will involve railway works including track, signalling, telecommunications and electrification, and major civil engineering works including the construction of two large new bridges, new stations and a new depot at New Cross Gate.